This paper investigates the effects of corruption and long-term investment of businesses in Vietnam using the General Least Square (GLS) estimation method for businesses in 63 provinces in Vietnam from 2016-2018. The results show that corruption was an important factor affecting the long-term investment decisions of Vietnamese enterprises. The ability to predict corruption of businesses can explain the phenomenon of part of the cash flow of businesses flowing out of production and business. Informal costs related to low-level administrative procedures act as “grease” to help businesses reduce time costs, but when the total amount of unofficial expenses exceeds 10% of revenue of businesses, they become a burden for businesses and restrain them from making long-term investments. Corrupted public officials' behavior has led businesses to misallocate resources and prevent them from making long-term investments. The result shows that the East Asia paradox holds only for the case of informal costs related to administrative procedures in Vietnam.

Covid-19 has been causing a large-scale pandemic, along with the rapid development of information technology. Information technology means such as digital applications will be one of the effective tools to help manage public investment and investment in general in Vietnam. Public investment management at autonomous universities in Vietnam is in the final stage of completion in terms of procedures, legal documents, and implementation. This study was designed to shed light on the factors that affect the management of public investments at Vietnamese autonomous universities. The study's data was gathered from a survey of 126 public investment managers at autonomous universities in Vietnam. Factor analysis and multivariate regression methods were used to analyze the influence of factors on public investment management at autonomous universities in Vietnam. According to research findings, the capacity of public investment management agencies at autonomous universities; Distribution of funds for the implementation of public investment projects; administrative procedures, legal provisions, and the actual context affect public investment management at autonomous universities in Vietnam. With Standardized Coefficients = 0.482, distribution of funds for implementation of public investment projects at schools at autonomous universities were the most influential factors. The research results are the foundation for proposing solutions to improve the efficiency of public investment management at these universities in Vietnam such as promulgating legal documents, building public investment management processes suitable to the characteristics of universities, developing, and proactively implementing works in investment management and operating results of public investment in autonomous University.